Derivative strategy on Sun Pharma by Chandan Taparia of Motilal Oswal

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Strategy:


SUNPHARMA – BULL CALL SPREAD


BUY 1 LOT OF 540 CALL


SELL 1 LOT OF 560 CALL


NET PREMIUM PAID : 6 POINTS





MAX RISK : 6 POINTS (Rs 4800/-)


MAX REWARD : 14 POINTS (Rs 11200/-)


Rationale:


1) It has given breakout from its major triangle pattern


2) Supports are gradually shifting higher


3) Fresh Put writing could support it to give the breakout


4) Thus a low risk, Bull Call Spread is recommended


Disclaimer: The analyst may have position in the stock mentioned above.

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